Comfort Company purchased 260 units of inventory on November 17, 2024. The units have a list price of $250 each, but Comfort was given a 20% trade discount. The terms of the sale were 2/10, n/30. Comfort uses a perpetual inventory system.

3. Prepare the journal entries to record the (a) purchase by Comfort on November 17 and payment on November 26, 2024, and (b) December 15, 2024 using the net method of accounting for purchase discounts.

Prepare the journal entries to record the (a) purchase by Comfort on November 17 and (b) payment on November 26,2024 . Comfort uses the net method of accounting for purchase discounts. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the purchase of inventory. Note: Enter debits before credits. Prepare the journal entry for the payment, assuming instead that it was made on December 15, 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field Journal entry worksheet Alternatively, record payment on December 15 using the net method of accounting for purchase discounts. Note: Enter debits before credits